Danube to invest Dh50m in Ajman factory

By

Staff Writer

PublishedTuesday, May 20, 2008

Danube Building Materials has announced plans to invest Dh50 million in the construction of a new facility in Ajman. The announcement follows a massive spurt in construction activity and the announcement of new projects in Ajman.

The new factory spanning 120,000 sqft will be located in Ajman's Al Jarf area and will start its operations in three months.

According to Danube, the demand for grade 'A' building materials continues to drive-up regional construction costs, which have risen by about 30 per cent in the last 12 months.

Rizwan Sajan, Chairman of Danube Building Materials, said the company had recognised the need to establish a hub to add to its factories in China, Bahrain and the UAE to cater to the increasing needs of Ajman's construction industry.

Total investment in Ajman real estate has crossed the Dh400 billion mark in 2007, with the launch of multimillion dirham waterfront ventures, high-end commercial projects and budget residential houses strengthening its repute as the newest real estate destination in the UAE.

The new facility according to him is expected to supply high-quality construction materials to major profile projects in the emirate, including Emirates Commercial City, Ajman Eye City, Al Helio Downtown, Al Zorah Beach project, Marmouka City, Wafi City and Ajman International Airport, along with other projects in UAE.

"Our expansion into Ajman, which closely follows the recent launch of our plant in China, is a testament to the rapid growth pace at which we are moving at to leverage the booming construction market in the region," said Sajan